Revolution Medicines (NASDAQ:RVMD) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Revolution Medicines (NASDAQ:RVMD) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

RVMD has been the topic of a number of other reports. Wedbush boosted their price target on shares of Revolution Medicines from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. National Bankshares set a $80.00 target price on shares of Revolution Medicines in a report on Friday, October 17th. Royal Bank Of Canada assumed coverage on shares of Revolution Medicines in a research note on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price target for the company. Piper Sandler began coverage on Revolution Medicines in a research note on Monday, August 18th. They set an “overweight” rating and a $75.00 target price for the company. Finally, Lifesci Capital started coverage on Revolution Medicines in a research note on Monday, August 18th. They issued an “outperform” rating and a $80.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $78.50.

Revolution Medicines Trading Up 2.3%

RVMD stock traded up $1.61 during mid-day trading on Monday, hitting $72.14. 306,407 shares of the company were exchanged, compared to its average volume of 1,974,449. The business has a fifty day simple moving average of $52.94 and a 200-day simple moving average of $43.53. The firm has a market capitalization of $13.95 billion, a P/E ratio of -13.95 and a beta of 1.25. Revolution Medicines has a 12-month low of $29.17 and a 12-month high of $72.33. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same period in the previous year, the firm earned ($0.94) EPS. On average, equities research analysts predict that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 30,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $60.31, for a total transaction of $1,809,300.00. Following the transaction, the insider directly owned 347,863 shares of the company’s stock, valued at approximately $20,979,617.53. This trade represents a 7.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Margaret A. Horn sold 4,775 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $218,790.50. Following the completion of the sale, the chief operating officer directly owned 145,900 shares of the company’s stock, valued at $6,685,138. The trade was a 3.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 238,033 shares of company stock valued at $11,566,908. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors have recently added to or reduced their stakes in the stock. General Atlantic L.P. acquired a new stake in shares of Revolution Medicines during the third quarter worth $115,556,000. Norges Bank acquired a new position in Revolution Medicines in the 2nd quarter valued at $62,584,000. T. Rowe Price Investment Management Inc. purchased a new position in Revolution Medicines during the 1st quarter worth $59,173,000. Nextech Invest Ltd. raised its position in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after buying an additional 1,304,347 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new stake in shares of Revolution Medicines in the 2nd quarter worth $44,148,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.